Urban Television Network (URBT) Stock Rally Amid News That It Will Begin Crypto Mining Operation

Rhea-AI Summary

URBT stocks have experienced a rally following the announcement of its crypto mining operations, led by crypto expert Kimberly Douglas, starting November 1, 2021. Urban Television Network Corp (OTC PINK:URBT) aims to break into the cryptocurrency market by targeting Bitcoin and Ethereum mining. The company has invested in 200 high-powered mining systems. The current cryptocurrency market's optimism, with analysts predicting Bitcoin could reach $100,000 by year-end, has bolstered investor confidence.

Positive

• URBT is set to begin crypto mining operations on November 1, 2021, targeting Bitcoin and Ethereum.
• Investor confidence has risen, reflecting excitement in expanding into the cryptocurrency sector.
• The company has invested in 200 high-powered mining systems to support its operations.

Negative

• None.

URBT stocks rally as the company announces take off its crypto mining operations lead by crypto expert Kimberly Douglas

LOS ANGELES, CA / ACCESSWIRE / August 16, 2021 / Urban Television Network Corp (OTC PINK:URBT) proudly announces that its stocks are rallying amid news it will begin crypto mining operations on November 1, 2021, in line with its plans to expand by breaking into the cryptocurrency industry. The project, which will target Bitcoin and Ethereum mining, will be led by Kimberly Douglas, a crypto mining expert and an advocate for mass adoption. She will take charge of and establish a team to carry out URBT's blockchain-based mining activities and cryptocurrency related business.

Investor confidence has risen as a result of these announcements, an expected plethora of strategic changes to follow and the exciting growth the cryptocurrency market is currently witnessing. The board of URBT had earlier approved the crypto mining operation to take of with approximately 200 high-powered mining computer systems purchased from reliable manufacturers across the country under the leadership of a crypto enthusiast and crypto mining expert, Kimberly Douglas.

After more than three months of lows in the crypto market since 2021 began, due in parts to Tesla's turn from accepting Bitcoin for payment, the combined value of the world's cryptocurrencies hit $2 trillion in August and investors are growing optimistic again that it will reach record highs it reached earlier in the year and even surpass it. This wave of optimism is bolstering URBT'S confidence in mining top cryptocurrencies like Bitcoin and Ethereum. Many analysts, including Bloomberg already predict that Bitcoin, which has just passed the $46,000 mark could hit $100,000 by the end of the year, with other cryptocurrencies following suit.

Joseph Collins, CEO of Urban TV Network Corp (OTC PINK: URBT), speaking about the stock rally: "Our investors can be excited about the direction our company is taking as we enter into the crypto mining space. We are an organization for the future, and we see that a financial revolution is already taking place that is transforming every sector of the economy is coming, and we want to be a part of that. Presently, The current value of the cryptocurrency market is larger than top companies like Facebook, Amazon, and Tesla! I am confident the performance of our stock right now is proof that we are making the right decisions and investors who are constantly observing the market changes can see this. Furthermore, we are very proud to have a capable professional capable team to lead our crypto mining operations and head the teams that will be responsible for driving the smooth operations of this business."

If you'd like to find out more about URBT's crypto mining operation and the company in general, please visit https://urbt.com/

Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. For an interview with Mr. Collins or for more information regarding URBT, please visit our website at URBT.com, email media@urbt.com or call our office at (323) 489-8119.

SOURCE: Urban Television Network

View source version on accesswire.com:
https://www.accesswire.com/659868/Urban-Television-Network-URBT-Stock-Rally-Amid-News-That-It-Will-Begin-Crypto-Mining-Operation

FAQ

What is URBT's plan for crypto mining operations?

URBT plans to begin its crypto mining operations on November 1, 2021, targeting Bitcoin and Ethereum.

Who is leading URBT's crypto mining initiative?

Kimberly Douglas, a crypto expert, is leading URBT's crypto mining operations.

What impact does the cryptocurrency market have on URBT's stock?

The optimism in the cryptocurrency market has positively impacted URBT's stock performance.

How many mining systems has URBT purchased for its operations?

URBT has purchased approximately 200 high-powered mining computer systems for its crypto mining operations.